Northwest Bio accused in stock-pump scheme, but CEO denies it

|About: Northwest Biotherapeutics, ... (NWBO)|By:, SA News Editor

Northwest Bio (NWBO) CEO Linda Powers denies charges contained in yesterday's Seeking Alpha article by Richard Pearson that the driving force behind gains in the stock price is a string of promotional pieces, asserting that the author didn't mention "the real reason, that the company has made tremendous operational progress."

Pearson contended that "many of the authors who have written on Northwest are using fake identities and fake credentials. They pretend to be biologists, other scientists, or fund managers. In fact, they are just paid writers."

Powers says NWBO has a business relationship with an outside investor relations firm that promotes the company on social media sites, but that writers are not commissioned to write puff pieces, as Pearson alleges.

NWBO has dropped nearly 7% since Pearson's story was posted Monday morning.